Clearing Up Lawsuit Funding Misconceptions

People are harmed every day, but most do not follow through with a lawsuit because they lack the finances to withstand a lengthy litigation process. Many are living paycheck to paycheck, but if they have lost their job due to the injuries sustained, it can be a financial nightmare waiting for compensation from a lawsuit. Banks are not interested in helping, and even if they did, it adds just one more bill to the mounting pile of unpaid bills.  With no financial resources, plaintiffs can lose their home, their car, and their credit rating.  Despite its growing popularity, few people have heard about lawsuit funding.  There are also numerous misconceptions that leave cash-strapped plaintiffs wondering if lawsuit funding is a viable option for their case.

Lawsuit funding is not a loan.  A loan must be paid back, usually in monthly payments. Loans also come with penalties for late payments and can damage personal credit if the borrower defaults. Lawsuit funding requires no payments until the case settles, at which time repayment is made from case proceeds.  Because lawsuit funding is a non-recourse cash advance, the plaintiff is under no obligation to pay back the advance if the case is lost.

Lawsuit funding does not take advantage of desperate plaintiffs.  In reality, lawsuit funding is the emergency cash plaintiffs need when they have no where else to turn.  Legal funding companies provide a no-risk, safe solution to help plaintiffs with their financial needs.  Additionally, there are no restrictions as to how the cash advance is used.  While it is true that interest rates for lawsuit funding are higher than those of traditional bank loan, the high interest balances the risk undertaken by the funding company.

Lawsuit funding does not affect the outcome of a case.  Legal funding companies never get involved in the lawsuit.  Lawsuit funding merely provides the plaintiff’s attorney time to fight for a fair, and often higher, settlement.

Lawsuit funding is not easily acquired.  Due to the high risk lawsuit funding is not generously offered.  The underwriters carefully review case documentation to determine the strength of the case.  Lawsuit funding is also expensive so plaintiffs should not enter into an agreement lightly, but should consider all options before applying.

Injured victims deserve a fair and just case settlement, but without financial assistance they may have no choice but to take the first settlement offer.  If you are a plaintiff in a pending lawsuit and interested in lawsuit funding, complete an online application or call a legal funding expert to discuss your funding needs.

Lawsuit Financial Corporation is a leader in the lawsuitfunding industry and recognized by attorneys nationwide as a preferred choice for legal funding services.  We are dedicated to securing lawsuit cash advances to plaintiffs based on case assessment only.  Every case is thoroughly reviewed to ensure the highest probability of being funded.  With a streamlined process, our professional staff works to ensure that each request for funding is processed quickly and efficiently, with funding available in as little as 24 hours. Lawsuit Financial prides itself on honest and exceptional customer service.  Putting our clients, and their specific funding needs, first is our number one goal.